Finance Minister promises crackdown on tax avoidance

The Government is set to crackdown on wealthy investors who buy property to avoid paying their fair share of tax.

Addressing the Fianna Fáil Ard Fheis in Killarney Brian Cowen announced he is to introduce a range of measures that would address the abuse of property and other tax incentives.

Brian Cowen told delegates “it is unacceptable” that some of the wealthiest residents in Irish society should use property and other incentives to avoid paying tax while at the same time enjoying all the benefits that the State has to offer.

Minister Cowen also indicated a generous package will be unveiled in his first Budget to address the childcare issue.